How Safe is it to Apply for a Personal Loan to pursue Higher Studies Abroad?

The price for studying abroad may seem steep, but in the larger scheme of things, given the doors, it will open for your child, it is a small sum to part with. Such an opportunity can help your child grow their network, earn a higher salary, work for a renowned company, and add merit to their CV. If you are thinking of sponsoring your child’s higher education abroad, don’t fear financial hurdles. All your needs can be easily met with a Personal Loan for higher studies overseas or even in India.

Additionally, you can find the right Higher Education Loan for you by researching the top lenders. Choosing Personal Loan for Higher Education can give you the finances you require along with added benefits. Look at some of these advantages below.

It has Speedy Processing

You can avail this education loan from Bajaj Finserv using an online application form. You will get an approval on your application within 5 minutes. Further, the funds sanctioned for you will be disbursed within 24 hours of document verification. This ensures that you can pay for and start immediate educational plans without further delay.

It has easy eligibility and minimal documentation

You can easily qualify for this loan based on simple Personal Loan eligibility norms. Here, as per the eligibility terms and conditions, you need to be a salaried resident citizen of India and between 25–58 years of age. The minimum salary requirement differs according to your city of residence. You can check it here.

In order to verify your eligibility, you can submit a copy of your Aadhaar Card, PAN Card, employee ID card, last two month’s salary slips, and your salary account’s bank statement for the last 3 months. This means that you do not have to waste time going through lengthy loan procedures and submitting heaps of unnecessary documents in order to receive funds. Additionally, your documents are picked up from your doorstep by a representative. This allows you to spend maximum time helping your child make a superior educational choice without having to worry about multiple trips to your lender’s nearest branch.

It gives you a substantial loan amount

Your child’s overseas education costs will require you to pay for an of fees and expenses such as the admission fees, tuition fees, lifestyles expenses, VISA costs, flight tickets and other emergency expense requirements. You can easily fund all these with the Bajaj Finserv Personal Loan for Higher Education that gives you funds up to Rs.25 lakh at nominal interest rates. Additionally, this loan is collateral-free, which means educating your child does not come at the cost of pledging a personal asset.

It has a Flexi Loan facility

Studying away from home can incur a lot of unexpected costs. At such a time to ensure that your child has ample funds available, you need not take a higher loan amount. You can choose to avail of the Flexi Loan facility on your Personal Loan. This way you can borrow funds from your sanction as per your child’s needs and emergencies and pay interest only on the used amount. Additionally, you can choose to pay interest-only EMIs and repay the principal at the end of the tenor. You can also part-prepay the loan at no additional cost.

It has an online account management

With an online account that houses all your loan-related information, you can track your expenses on the customer portal. This means you can still access your loan information if you are visiting your child abroad or are out of town on a business trip. All you need to do is use your customer ID and password to access your most recent statements, pending dues and more. Additionally, you can use the online Personal Loan EMI calculator to plan your finances and choose the right tenor for your needs.

Nurture your child’s bright future and potential growth by checking your pre-approved offer to know the amount of waiting for you. Avail your Personal Loan amount and make the most of the upcoming admissions.